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TUI Travel LEAP-1B Commitment Potentially Valued At $1.56 Billion U.S - TUI Travel PLC and CFM International today celebrated the leisure travel group’s commitment to purchase 120 LEAP-1B engines to power 60 Boeing 737 MAX 8 and MAX 9 aircraft - Snecma.fr / GE.com
TUI Travel LEAP-1B Commitment Potentially Valued At $1.56 Billion U.S

 

PRZOOM - /newswire/ - Le Bourget Airport, France, 2013/06/17 - TUI Travel PLC and CFM International today celebrated the leisure travel group’s commitment to purchase 120 LEAP-1B engines to power 60 Boeing 737 MAX 8 and MAX 9 aircraft - Snecma.fr / GE.com. PAR: SAF | SAFRAN

   
 
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Pending TUI shareholder approval, the order is valued at $1.56 billion U.S. at list price. The carrier also has options on 60 additional LEAP-powered 737 aircraft.

TUI Travel is scheduled to begin taking delivery in 2018.

“The LEAP engine will provide outstanding fuel efficiency, along with best-in-class reliability and operating economics,” said Peter Long, Chief Executive, TUI Travel. "That makes is a great fit for the 737 MAX and for our operations. We look forward to welcoming this new engine into our fleet.”

“TUI Travel is a long-time customer; we have worked together for more than 25 years,” said Gael Meheust, vice president of Sales for CFM International. “We are obviously very pleased to enter this exciting new phase with them.”

CFM International (CFM) set aggressive technical target for LEAP and testing to date confirms that the engine is meeting those goals. Compared to today’s best engines, LEAP will provide TUI Travel with 15 percent better engine fuel efficiency, which equates to an equal reduction in CO2 emissions; a 50 percent margin compared to today’s oxides of nitrogen (NOx) requirements; and meet the newly announced 2018 ICAO noise requirements with significant margin, all with CFM’s legendary reliability and comparable maintenance costs.

LEAP is a product of CFM International (CFM), a 50/50 joint company between Snecma (Safran) and GE and the world’s leading supplier of commercial aircraft engines.

TUI Travel PLC TUI Travel PLC is one of the world’s leading international leisure travel groups operating in approximately 180 countries worldwide. It serves more than 30 million customers in over 31 source markets. Headquartered in the UK, the Group employs approximately 54,000 people and operates a pan-European airline group consisting of 141 aircraft. The company is organized and managed through three business Sectors: Mainstream, Specialist & Activity and Accommodation & Destinations. In the financial year ended 30 September 2012 TUI Travel had revenues of £14.46bn and an underlying operating profit of £490m.

Contacts:
Jamie Jewell - CFM International
T: 513.552.2790 / M: 513.885.2282 - E: jamie.jewell[.]ge.com.

Rick Kennedy
T: 513.243.3372 / M: 513.607.0609 - E: rick.l.kennedy[.]ge.com.

 
 
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Agency / Source: Safran Group

 
 

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TUI Travel LEAP-1B Commitment Potentially Valued At $1.56 Billion U.S

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Safran Group |
Contact: Giulia Lecarrié - Snecma.fr 
+33(0)1 69 87 09 29 / +33(0)6 42 40 17 19 giulia.lecarrie[.]snecma.fr
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Safran Group securities in any jurisdiction including any other companies listed or named in this release.

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